Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 722 | 753 | 767 | 782 | 832 | 854 | 898 | 935 | 1,005 | 1,070 | 1,107 | 1,152 |
| Expenses | 517 | 546 | 571 | 616 | 616 | 646 | 680 | 710 | 734 | 794 | 824 | 887 |
| Operating Profit | 205 | 207 | 196 | 166 | 216 | 207 | 219 | 224 | 271 | 276 | 283 | 265 |
| OPM % | 28% | 28% | 26% | 21% | 26% | 24% | 24% | 24% | 27% | 26% | 26% | 23% |
| Other Income | 14 | 19 | 23 | 21 | 13 | 21 | 32 | 11 | 27 | 30 | 30 | 18 |
| Interest | 6 | 6 | 6 | 8 | 8 | 8 | 11 | 10 | 11 | 10 | 12 | 15 |
| Depreciation | 30 | 34 | 34 | 32 | 33 | 36 | 41 | 37 | 42 | 46 | 50 | 50 |
| Profit before tax | 182 | 187 | 179 | 148 | 188 | 184 | 199 | 188 | 245 | 250 | 252 | 219 |
| Tax % | 25% | 26% | 28% | 24% | 26% | 25% | 23% | 25% | 25% | 23% | 25% | 25% |
| Net Profit | 136 | 139 | 130 | 112 | 140 | 137 | 153 | 142 | 183 | 192 | 190 | 164 |
| EPS in Rs | 13.86 | 14.13 | 13.31 | 11.38 | 14.72 | 14.38 | 15.97 | 14.87 | 19.22 | 20.40 | 20.13 | 17.47 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,314 | 1,330 | 1,365 | 1,431 | 1,438 | 1,564 | 2,160 | 2,648 | 2,926 | 3,366 | 4,117 | 4,335 |
| Expenses | 833 | 869 | 998 | 1,122 | 1,111 | 1,115 | 1,498 | 1,925 | 2,150 | 2,557 | 3,064 | 3,239 |
| Operating Profit | 482 | 461 | 368 | 309 | 326 | 450 | 662 | 723 | 776 | 809 | 1,053 | 1,096 |
| OPM % | 37% | 35% | 27% | 22% | 23% | 29% | 31% | 27% | 27% | 24% | 26% | 25% |
| Other Income | 36 | 28 | 61 | 49 | 45 | 34 | 24 | 66 | 64 | 87 | 101 | 105 |
| Interest | 1 | 2 | 1 | 1 | 20 | 21 | 23 | 22 | 24 | 36 | 44 | 47 |
| Depreciation | 57 | 52 | 48 | 45 | 71 | 82 | 103 | 114 | 126 | 141 | 175 | 188 |
| Profit before tax | 460 | 436 | 380 | 311 | 281 | 381 | 560 | 653 | 689 | 719 | 935 | 966 |
| Tax % | 26% | 19% | 24% | 27% | 26% | 26% | 25% | 25% | 26% | 25% | 24% | |
| Net Profit | 342 | 354 | 290 | 228 | 209 | 283 | 418 | 489 | 512 | 541 | 706 | 729 |
| EPS in Rs | 27.90 | 29.65 | 25.00 | 19.66 | 18.83 | 26.99 | 41.08 | 49.83 | 52.14 | 56.78 | 75.09 | 77.22 |
| Dividend Payout % | 1% | 1% | 1% | 2% | 2% | 1% | 1% | 1% | 1% | 1% | 1% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 12% | 21% | 16% | 23% | ||
| Compounded Profit Growth | 7% | 21% | 13% | 28% | ||
| Stock Price CAGR | 13% | 19% | 25% | -12% | ||
| Return on Equity | 24% | 26% | 25% | 28% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 30 | 41 | 40 | 38 | 38 | 36 | 34 | 33 | 48 | 48 | 47 | 92 |
| Reserves | 685 | 1,052 | 1,176 | 1,167 | 1,344 | 1,270 | 1,467 | 1,534 | 1,667 | 2,199 | 2,259 | 2,469 |
| Borrowings | 0 | 4 | 1 | 6 | 2 | 157 | 175 | 163 | 194 | 266 | 358 | 385 |
| Other Liabilities | 242 | 192 | 182 | 208 | 201 | 260 | 315 | 324 | 365 | 406 | 475 | 744 |
| Total Liabilities | 957 | 1,288 | 1,398 | 1,419 | 1,584 | 1,723 | 1,991 | 2,055 | 2,274 | 2,919 | 3,139 | 3,691 |
| Fixed Assets | 167 | 365 | 325 | 343 | 348 | 480 | 728 | 713 | 773 | 843 | 974 | 1,054 |
| CWIP | 1 | 0 | 2 | 0 | 0 | 1 | 0 | 2 | 21 | 1 | 0 | 5 |
| Investments | 155 | 219 | 252 | 165 | 286 | 437 | 229 | 196 | 275 | 406 | 309 | 308 |
| Other Assets | 634 | 704 | 820 | 910 | 950 | 806 | 1,033 | 1,145 | 1,206 | 1,669 | 1,856 | 2,324 |
| Total Assets | 957 | 1,288 | 1,398 | 1,419 | 1,584 | 1,723 | 1,991 | 2,055 | 2,274 | 2,919 | 3,139 | 3,691 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 243 | 418 | 312 | 305 | 206 | 333 | 365 | 444 | 493 | 526 | 655 | 873 |
| Cash from Investing Activity | -62 | -167 | -175 | 26 | -230 | 24 | -2 | 44 | -55 | -483 | 143 | -97 |
| Cash from Financing Activity | -115 | -165 | -245 | -304 | -54 | -308 | -188 | -416 | -440 | -107 | -610 | -622 |
| Net Cash Flow | 66 | 86 | -108 | 28 | -77 | 49 | 174 | 71 | -2 | -64 | 188 | 155 |
| Free Cash Flow | 182 | 366 | 283 | 264 | 154 | 299 | 326 | 383 | 403 | 462 | 539 | 756 |
| CFO/OP | 98% | 87% | 68% | 83% | 67% | 102% | 81% | 92% | 93% | 90% | 101% | 104% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 49 | 52 | 59 | 62 | 62 | 60 | 68 | 56 | 61 | 62 | 86 | 90 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 49 | 52 | 59 | 62 | 62 | 60 | 68 | 56 | 61 | 62 | 86 | 90 |
| Working Capital Days | 22 | 52 | 74 | 72 | 70 | 44 | 46 | 47 | 46 | 61 | 59 | 59 |
| ROCE % | 46% | 51% | 38% | 30% | 24% | 21% | 24% | 34% | 36% | 32% | 28% | 34% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 53.61% | 53.61% | 53.61% | 53.61% | 53.81% | 53.81% | 53.81% | 53.81% | 53.81% | 53.81% | 54.53% | 54.53% |
| FIIs | 12.13% | 11.81% | 12.19% | 11.78% | 10.31% | 10.27% | 10.12% | 10.16% | 10.95% | 11.39% | 11.82% | 11.01% |
| DIIs | 21.64% | 22.91% | 22.75% | 22.49% | 24.02% | 24.19% | 25.12% | 26.04% | 25.72% | 25.31% | 23.95% | 23.84% |
| Government | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Public | 10.92% | 10.04% | 9.78% | 10.68% | 10.42% | 10.38% | 9.49% | 8.59% | 7.98% | 7.67% | 7.53% | 8.43% |
| Others | 1.68% | 1.63% | 1.66% | 1.43% | 1.42% | 1.33% | 1.44% | 1.39% | 1.52% | 1.80% | 2.15% | 2.19% |
| No. of Shareholders | 49,715 | 52,639 | 49,157 | 1,46,680 | 58,048 | 68,025 | 69,424 | 66,300 | 65,927 | 70,296 | 67,142 | 74,342 |
Fundamentals
Market Cap₹ 16,644 Cr.
Current Price₹ 1,770
Stock P/E22.8
Book Value₹ 272
ROCE34.4 %
ROE28.4 %
Dividend Yield0.06 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)23%
Compounded Profit Growth (TTM)28%
Consolidated figures.
Valuation
Market capRs 16,592 Cr
Enterprise valueRs 16,239 Cr
P/E (TTM)22.76x
Price to book6.48x
Price to sales3.83x
EV / EBITDA13.52x
EV / EBIT16.03x
EV / sales3.75x
Price to cash flow19.00x
Earnings yield4.39%
Dividend yield0.06%
P/E, 3-year average13.76x
P/B, 3-year average3.45x
P/E, 5-year average10.78x
P/B, 5-year average2.77x
Profitability
Operating margin (excl. other income)25.58%
Operating margin (incl. other income)28.04%
EBITDA margin27.71%
Pre-tax margin22.28%
Net profit margin16.81%
Net margin, latest quarter14.26%
ROE29.02%
ROCE34.91%
ROA20.68%
ROE, 3-year average26.20%
ROCE, 3-year average32.11%
ROA, 3-year average19.41%
ROE, 5-year average27.12%
ROCE, 5-year average33.54%
ROA, 5-year average20.29%
ROIC (approx.)34.66%
Tax rate24.45%
Other income / net worth3.95%
Growth
Sales growth (latest year)22.32%
Profit growth (latest year)30.52%
Sales CAGR, 3 years15.85%
Sales CAGR, 5 years21.35%
Profit CAGR, 3 years13.05%
Profit CAGR, 5 years20.11%
Sales growth QoQ4.07%
Profit growth QoQ-13.21%
Sales growth YoY (latest quarter)23.31%
Profit growth YoY (latest quarter)15.99%
Per share
EPS (TTM)Rs 79.20
EPS (latest year)Rs 76.74
EPS (latest quarter)Rs 17.86
EPS, 3-year averageRs 99.33
EPS, 5-year averageRs 105.18
Book value per shareRs 278.32
Sales per shareRs 471.02
Cash flow per shareRs 94.91
Free cash flow per shareRs 82.15
Dividend per share (latest year)Rs 1.00
Dividend per share, 3-year averageRs 1.00
Dividend per share, 5-year averageRs 1.00
Dividends
Dividend payout1.30%
Dividend payout, 3-year average1.04%
Dividend payout, 5-year average0.98%
Efficiency
Asset turnover1.12x
Fixed asset turnover3.91x
Inventory turnover311.69x
Inventory days1 days
Debtor days90 days
Debtors turnover4.06x
Cash conversion cycle90 days
Working capital days59 days
Leverage
Total debtRs 385 Cr
Cash and bankRs 738 Cr
Net debtRs -353 Cr
Debt to equity0.15x
Net debt / EBITDA-0.29x
Interest coverage21.40x
Current ratio (filing 2026-03-31)3.40x
Quick ratio (filing 2026-03-31)3.40x
Trade payables (filing 2026-03-31)Rs 100 Cr
Owners' fund to total sources69.40%
Debt to assets10.43%
Cash flow
Cash from Operating Activity (latest year)Rs 873 Cr
Cash from Investing Activity (latest year)Rs -97 Cr
Cash from Financing Activity (latest year)Rs -622 Cr
Net Cash Flow (latest year)Rs 155 Cr
Free cash flow (latest year)Rs 756 Cr
FCFE (approx.: FCF + change in debt)Rs 783 Cr
Cash from ops / profit, 5 years1.12x
Sales to cash flow4.71x
Statement figures
Net sales (TTM)Rs 4,335 Cr
Net sales (latest year)Rs 4,117 Cr
Sales (latest quarter)Rs 1,152 Cr
Operating profit excl. other income (latest year)Rs 1,053 Cr
Operating profit (latest quarter)Rs 265 Cr
Other income (TTM)Rs 105 Cr
EBITDA (TTM)Rs 1,201 Cr
PBDT (TTM)Rs 1,154 Cr
Profit before tax (TTM)Rs 966 Cr
Tax (latest year)Rs 229 Cr
Net profit (TTM)Rs 729 Cr
Net profit (latest year)Rs 706 Cr
Net profit (latest quarter)Rs 164 Cr
Depreciation (TTM)Rs 188 Cr
Depreciation (latest quarter)Rs 50 Cr
Interest (TTM)Rs 47 Cr
Cost of goods sold (latest year)Rs 193 Cr
Total expenditure (latest year)Rs 3,064 Cr
Total income (latest year)Rs 4,218 Cr
Share capitalRs 92 Cr
ReservesRs 2,469 Cr
Shareholders' fundsRs 2,561 Cr
Total assetsRs 3,691 Cr
Net blockRs 1,054 Cr
Capital work in progressRs 5 Cr
InvestmentsRs 308 Cr
ReceivablesRs 1,014 Cr
InventoryRs 1 Cr
Other liabilitiesRs 744 Cr
Shares outstanding (crore)9.20
Ownership
Promoter holding54.53% (+0.72 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 22.8 is at the 68th percentile of its own 9.4-year range
(median 16.0, low 4.9, high 38.1).
P/B 6.48 is at the 82th percentile (median 4.15).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | ECLERX | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -4.6% | -2.8% | -1.8 pts |
| 1 month | -8.7% | -6.8% | -1.9 pts |
| 3 months | +21.1% | -7.6% | +28.7 pts |
| 6 months | +30.0% | +0.4% | +29.6 pts |
| 1 year | -15.1% | -9.9% | -5.2 pts |
| 2 years | +32.5% | -13.6% | +46.0 pts |
| 3 years | +100.1% | +14.2% | +86.0 pts |
| 5 years | +145.1% | +27.9% | +117.3 pts |
89 mutual fund schemes hold about ₹4,416 Cr.
Over three months 71 bought more and 11 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| HDFC Small Cap Fund | 3.09% | 1,294 | +22% |
| Nippon India Small Cap Fund | 0.83% | 682 | +17% |
| DSP Small Cap Fund | 2.03% | 440 | +12% |
| Bandhan Small Cap Fund | 1.09% | 373 | +14% |
| HDFC Children's Fund(Lock in) | 2.69% | 286 | +21% |
| HSBC Small Cap Fund | 0.97% | 184 | -14% |
| Motilal Oswal Small Cap Fund | 1.74% | 142 | +29% |
| Mirae Asset Small Cap Fund | 1.60% | 91 | +19% |
| ICICI Pru Technology Fund | 0.67% | 91 | -3% |
| Tata Digital India Fund | 0.75% | 77 | +4% |
| UTI Small Cap Fund | 1.33% | 70 | +28% |
| Motilal Oswal Focused Fund | 3.00% | 55 | +100% |
| HDFC Technology Fund | 3.07% | 46 | +12% |
| Aditya Birla SL Digital India Fund | 1.10% | 45 | +15% |
| Edelweiss Small Cap Fund | 0.58% | 42 | +100% |
| HSBC Multi Cap Fund | 0.69% | 42 | -24% |
| Union Small Cap Fund | 1.38% | 37 | +5% |
| Motilal Oswal Digital India Fund | 3.68% | 34 | -15% |
| Union Small Cap Fund | 1.38% | 33 | +5% |
| HSBC India Export Opportunities Fund | 2.42% | 32 | +2% |
| WOC Flexi Cap Fund | 0.34% | 31 | +10% |
| Aditya Birla SL Balanced Advantage Fund | 0.30% | 31 | +100% |
| HDFC Large & Mid Cap Fund | 0.07% | 22 | +20% |
| Motilal Oswal Innovation Opportunities Fund | 3.17% | 22 | +100% |
| Baroda BNP Paribas Small Cap Fund | 1.66% | 21 | +0% |
Red flags
F-score 8 of 8| look | Auditor change Auditor change 2026-03-12: eClerx Services Limited has informed the Exchange regarding Change in Auditors of the company. |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹1,152 Cr +23.2% vs Jun 2025.
Net profit ₹164 Cr +15.5%.
Against our estimate for Jun 2026: sales -0.9%, profit -19.6% big miss. Our estimate for Sep 2026: sales Rs 1,239 Cr, profit Rs 217 Cr (how).
Activity
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| Firstsource Solutions Ltd | 17,598 | 22.0 | 16.8 % |
| RPSG Ventures Ltd | 2,765 | 10.6 % | |
| One Point One Solutions Ltd | 1,883 | 40.9 | 10.9 % |
| Hinduja Global Solutions Ltd | 1,703 | 1.46 % | |
| Alldigi Tech Ltd | 1,182 | 12.8 | 27.9 % |
| NSB BPO Solutions Ltd | 121 | 9.44 | 8.15 % |
| Kandarp Digi Smart BPO Ltd | 59 | 32.0 | 11.2 % |
| We Win Ltd | 48 | 10.7 | 10.9 % |
| Cadsys (India) Ltd | 42 | -14.0 % | |
| Informed Technologies India Ltd | 33 | 29.0 | -0.32 % |
| HRH Next Services Ltd | 31 | 6.41 | 15.8 % |
| Platinumone Business Services Ltd | 24 | 35.0 | 13.4 % |
| BNR Udyog Ltd | 11 | -9.58 % | |
| Plada Infotech Services Ltd | 11 | 6.47 | 14.0 % |
| G-Tech Info Training Ltd | 3 | 319 | 8.00 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-08-21 | Dividend - Re 1 Per Share | |
| 2026-03-13 | Bonus 1:1 | 0.5000 |
| 2025-12-17 | Buy Back | |
| 2025-08-22 | Dividend - Re 1 Per Share | |
| 2024-09-06 | Dividend - Re 1 Per Share | |
| 2024-07-04 | Buy Back | |
| 2023-08-31 | Annual General Meeting/Dividend - Re 1 Per Share | |
| 2022-12-26 | Buy Back | |
| 2022-09-21 | Bonus 1:2 | 0.6667 |
| 2022-09-07 | Annual General Meeting | |
| 2022-08-19 | Dividend - Re 1 Per Share | |
| 2021-09-29 | Buyback | |
| 2021-09-15 | Annual General Meeting/Dividend - Re 1 Per Share | |
| 2020-09-16 | Dividend - Re 1 Per Share | |
| 2019-08-21 | Annual General Meeting/Dividend Rs 1 Per Share | |
| 2019-05-09 | Buy Back | |
| 2018-08-20 | Annual General Meeting/Dividend- Re 1 Per Share | |
| 2018-02-02 | Buyback | |
| 2017-08-11 | Annual General Meeting/Dividend - Re 1/- Per Share | |
| 2016-10-27 | Buy Back | |
| 2016-07-04 | Annual General Meeting/Dividend Re 1/- Per Share | |
| 2015-12-17 | Bonus 1:3 | 0.7500 |
| 2015-07-09 | Annual General Meeting/ Dividend - Rs 35/- Per Share | |
| 2014-07-02 | Annual General Meeting / Dividend - Rs 35/- Per Share | |
| 2013-08-13 | Annual General Meeting/Dividend Rs 25/- Per Share | |
| 2012-08-13 | Annual General Meeting/Dividend Rs 17.50 Per Share | |
| 2011-08-12 | Annual General Meeting And Dividend Rs.22.50 Per Share | |
| 2010-09-06 | Annual General Meeting And Dividend Rs.10/- Per Share | |
| 2010-07-23 | Bonus 1:2 | 0.6667 |
| 2009-11-10 | Int Div-Rs.7.50 Per Share | |
| 2009-08-20 | Agm/Div-Rs.10/- Per Share | |
| 2008-11-14 | Interim Dividend - 25% | |
| 2008-08-21 | Agm/Div-Rs.2 Per Share |
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of eClerx Services Ltd?
eClerx Services Ltd (ECLERX) has a market capitalisation of Rs 16,644 Cr. at the 2026-10-01 close.
What is the P/E ratio of eClerx Services Ltd?
eClerx Services Ltd trades at a P/E of 22.8 on trailing twelve-month profit, at the 2026-10-01 close.
What were eClerx Services Ltd's latest quarterly results?
In the Jun 2026 quarter, eClerx Services Ltd sales was Rs 1,152 Cr (+23.2% vs Jun 2025) and net profit was Rs 164 Cr.
What is the 52-week high and low of eClerx Services Ltd?
The 52-week high is Rs 2,497.50 and the 52-week low is Rs 1,320.00.